IMMO GESCON: what changed
Two financial years side by side, explained: what moved most in the balance sheet and the result, why the result rose or fell, and where the money went.
What changed
IMMO GESCON
NACE 68.201, Renting and operating of own or leased residential real estate, excluding social housing
financial year 2024 against 2025filed annual accounts (NBB)
Net result for the year
-€2,260
2024 · -€85,773+€83,513
Equity
€2.8m
2024 · €2.8m-€2,260
Cash
€42,073
2024 · €55,058-€12,986
Balance sheet total
€4.4m
2024 · €3.5m+€876,378
Largest movements
Assets
- Tangible fixed assets +€924,844
up €924,844 (+28.3%), from €3.3m to €4.2m
of which Land and buildings: +€1.4m
Equity and liabilities
- Debts after one year +€827,459
up €827,459 (+219.5%), from €376,953 to €1.2m
- Current portion of long-term debt +€76,471
new in 2025: €76,471
- Other debts -€55,806
down €55,806 (-29.7%), from €187,592 to €131,786
Income statement
- Gross operating margin +€65,506
up €65,506 (+57.5%), from €114,016 to €179,522
- Depreciation -€27,533
down €27,533 (-19.4%), from €142,237 to €114,704
- Financial charges +€27,390
up €27,390 (+332.7%), from €8,233 to €35,623
of which Financial charges: +€28,590
- Other operating charges -€16,807
down €16,807 (-36.8%), from €45,626 to €28,818
- Staff costs -€5,096
down €5,096 (-39.7%), from €12,827 to €7,730
From the 2024 result to the 2025 result
Each bar is the change in one income-statement line, as its effect on the result: higher costs pull it down, higher income lifts it.
Result 2024
-€85,773
Gross operating margin
+€65,506
Staff costs
+€5,096
Depreciation
+€27,533
Other operating charges
+€16,807
Financial income
-€2,489
Financial charges
-€27,390
Taxes
+€0
Deferred taxes and other
-€1,552
Result 2025
-€2,260
Cash bridge derived
Derived from the 2024 and 2025 balance sheets and the 2025 result: not a filed cash-flow statement. It shows where the money came from and went.
From operations
+€122,633
Investment
-€1.0m
Financing
+€903,929
Cash 2024
€55,058
From operations (derived)
+€122,633
Net result for the year
-€2,260
Depreciation
+€114,704
Receivables within one year
+€36,331
Smaller working-capital items
-€1,646
Provisions
-€3,093
Trade debts
+€29,121
Advances received
+€5,282
Other debts
-€55,806
Investment (derived)
-€1.0m
Investment in fixed assets (net)
-€1.0m
Financing
+€903,929
Debts after one year
+€827,459
Current portion of long-term debt
+€76,471
Cash 2025
€42,073
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €3,484,154 | €4,360,531 | +€876,378 | +25.2% |
| Fixed assets | 21/28 | €3,270,142 | €4,194,986 | +€924,844 | +28.3% |
| Tangible fixed assets | 22/27 | €3,270,142 | €4,194,986 | +€924,844 | +28.3% |
| Land and buildings | 22 | €2,768,487 | €4,194,759 | +€1.4m | +51.5% |
| Furniture and vehicles | 24 | €761 | €228 | -€533 | -70.1% |
| Assets under construction and advance payments | 27 | €500,895 | €0 | -€500,895 | -100.0% |
| Current assets | 29/58 | €214,012 | €165,545 | -€48,466 | -22.6% |
| Amounts receivable within one year | 40/41 | €157,065 | €120,734 | -€36,331 | -23.1% |
| Trade receivables | 40 | €55,143 | €18,690 | -€36,453 | -66.1% |
| Other amounts receivable | 41 | €101,922 | €102,043 | +€122 | +0.1% |
| Cash at bank and in hand | 54/58 | €55,058 | €42,073 | -€12,986 | -23.6% |
| Deferred charges and accrued income | 490/1 | €1,889 | €2,739 | +€850 | +45.0% |
| Total equity and liabilities | 10/49 | €3,484,154 | €4,360,531 | +€876,378 | +25.2% |
| Equity | 10/15 | €2,761,745 | €2,759,484 | -€2,260 | -0.1% |
| Contributions | 10/11 | €89,913 | €89,913 | = | 0.0% |
| Reserves | 13 | €186,329 | €180,748 | -€5,581 | -3.0% |
| Non-distributable reserves | 130/1 | €10,298 | €10,298 | = | 0.0% |
| Reserves not available under the articles | 1311 | €10,298 | €10,298 | = | 0.0% |
| Tax-exempt reserves | 132 | €176,031 | €170,450 | -€5,581 | -3.2% |
| Profit (loss) carried forward | 14 | €2,485,502 | €2,488,823 | +€3,321 | +0.1% |
| Provisions and deferred taxes | 16 | €97,548 | €94,455 | -€3,093 | -3.2% |
| Deferred taxes | 168 | €97,548 | €94,455 | -€3,093 | -3.2% |
| Amounts payable | 17/49 | €624,861 | €1,506,592 | +€881,731 | +141.1% |
| Amounts payable after more than one year | 17 | €376,953 | €1,204,412 | +€827,459 | +219.5% |
| Financial debts | 170/4 | €376,953 | €1,204,412 | +€827,459 | +219.5% |
| Amounts payable within one year | 42/48 | €247,908 | €302,180 | +€54,272 | +21.9% |
| Current portion of amounts payable after more than one year | 42 | - | €76,471 | +€76,471 | |
| Trade debts | 44 | €20,714 | €49,835 | +€29,121 | +140.6% |
| Suppliers | 440/4 | €20,714 | €49,835 | +€29,121 | +140.6% |
| Advances received on contracts in progress | 46 | €28,312 | €33,594 | +€5,282 | +18.7% |
| Taxes, remuneration and social security | 45 | €11,291 | €10,495 | -€796 | -7.1% |
| Taxes | 450/3 | €10,300 | €9,354 | -€946 | -9.2% |
| Remuneration and social security | 454/9 | €991 | €1,141 | +€150 | +15.1% |
| Other amounts payable | 47/48 | €187,592 | €131,786 | -€55,806 | -29.7% |
| Non-recurring operating income | 76A | €2,500 | €0 | -€2,500 | -100.0% |
| Remuneration, social security and pensions | 62 | €12,827 | €7,730 | -€5,096 | -39.7% |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €142,237 | €114,704 | -€27,533 | -19.4% |
| Other operating charges | 640/8 | €45,626 | €28,818 | -€16,807 | -36.8% |
| Gross operating margin | 9900 | €114,016 | €179,522 | +€65,506 | +57.5% |
| Operating profit (loss) | 9901 | -€86,673 | €28,270 | +€114,943 | |
| Financial income | 75/76B | €4,489 | €2,000 | -€2,489 | -55.4% |
| Recurring financial income | 75 | €3,247 | €2,000 | -€1,247 | -38.4% |
| Non-recurring financial income | 76B | €1,242 | €0 | -€1,242 | -100.0% |
| Financial charges | 65/66B | €8,233 | €35,623 | +€27,390 | +332.7% |
| Recurring financial charges | 65 | €7,033 | €35,623 | +€28,590 | +406.5% |
| Non-recurring financial charges | 66B | €1,200 | €0 | -€1,200 | -100.0% |
| Profit (loss) for the period before taxes | 9903 | -€90,418 | -€5,353 | +€85,064 | +94.1% |
| Transfer from deferred taxes | 780 | €4,645 | €3,093 | -€1,552 | -33.4% |
| Income taxes | 67/77 | €0 | €0 | -€0 | -100.0% |
| Profit (loss) for the period | 9904 | -€85,773 | -€2,260 | +€83,513 | +97.4% |
| Transfer from tax-exempt reserves | 789 | €8,382 | €5,581 | -€2,801 | -33.4% |
| Profit (loss) for the period to be appropriated | 9905 | -€77,391 | €3,321 | +€80,712 |
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Colour: green is a favourable move for that line, red an unfavourable one. Prepared on 10 October 2026 via checked.be.